ICCI calls for focusing on exports promotions

The Islamabad Chamber of Commerce and Industry Monday called upon the government to focus on promoting exports in order to attain self-sufficiency and reduce dependence on local and foreign loans as the cost of debt servicing was rising and eating into sufficient chunk of tax revenue.

President Islamabad Chamber of Commerce and Industry Sheikh Amir Waheed in a statement issued here said that promoting annual exports to $30 billion would lower the needs of the country to go for foreign loans.

He urged the government for cooperating with private sector in identifying new markets for diversification in foreign trade and enhance exports.

He also stressed that the government should resolve the problems faced by the exporters on war footing basis.

Sheikh Amir Waheed said that about Rs 250 to Rs 300 billion refunds of exporters were reportedly stuck up with the government due to which the export sector was facing liquidity problems.

He urged the government to ensure timely release of refunds to facilitate the exporters.